U.S. stocks suffer another week of losses, Dow ends lowest since November 2020 as bond yields hammer equities after Fed rate hike

U.S. stocks suffer another week of losses, Dow ends lowest since November 2020 as bond yields hammer equities after Fed rate hike

U.S. stocks closed sharply lower Friday, with the Dow Jones Industrial Average ending at its lowest closing value since November 2020. All three major benchmarks suffered another week of losses as bond yields rose in the wake of the Federal Reserve’s interest rate hike on Wednesday. For the week, the Dow dropped 4% while the … Read more

Wharton’s Jeremy Siegel accuses Fed of making one of the biggest policy mistakes in its 110-year history

Wharton’s Jeremy Siegel accuses Fed of making one of the biggest policy mistakes in its 110-year history

““I think we’re giving Powell too much praise. … The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.”” — Jeremy Siegel Wharton professor Jeremy Siegel has a bone to pick with Federal Reserve Chair Jerome Powell. The longtime … Read more

Dow falls below June low — here’s what it would take to enter bear market

Dow falls below June low — here’s what it would take to enter bear market

An ugly Friday for global equities led to a sharply lower start for Wall Street, as investors eye a potential retest of crucial support on the price charts at the June lows. The Dow Jones Industrial Average DJIA, -1.46%, in fact, was down 390 points or 1.3%, at 29,687, trading below its June 17 closing … Read more

Wall Street ends down for third day as growth concerns weigh on tech

Wall Street ends down for third day as growth concerns weigh on tech

Register now for FREE unlimited access to Reuters.com Register Tech stocks down in aftermath of Fed’s latest rate move Investors concerned about possibility of recession Darden Restaurants falls on downbeat quarterly sales JetBlue posts lowest close since March 2020 Indexes down: Dow 0.35%, S&P 0.84%, Nasdaq 1.37% Sept 22 (Reuters) – Major Wall Street indexes … Read more

Yen rallies after Japan intervenes for first time in 24 years

Yen rallies after Japan intervenes for first time in 24 years

The dollar dropped sharply against the Japanese yen on Thursday, in the first intervention to support its currency since 1998, after the Bank of Japan bucked the trend of other central banks by not hiking interest rates. The dollar USDJPY, -0.86% dropped swiftly, trading at 142.20 yen from 144.08 yen on Wednesday, in action timed … Read more

Wall Street falls as Fed focus, Ford forecasts, frighten investors

Wall Street falls as Fed focus, Ford forecasts, frighten investors

Register now for FREE unlimited access to Reuters.com Register All eyes on Fed policy decision on Wednesday Ford sees additional $1 bln in inflationary costs, shares fall Nike slips after Barclays downgrade on China lockdown concerns Indexes down: Dow 1.73%, S&P 1.8%, Nasdaq 1.58% Sept 20 (Reuters) – Wall Street fell on Tuesday as traders, … Read more

Wall Street flat but trading choppy ahead of Fed rate meet

Wall Street flat but trading choppy ahead of Fed rate meet

Register now for FREE unlimited access to Reuters.com Register All eyes on Fed policy decision on Wednesday Traders price in small chance of 100 bps rate hike Take Two’s GTA VI gameplay footage leaked online Indexes all down 0.05%-0.06% Sept 19 (Reuters) – Wall Street’s main indexes were flat in the early afternoon on Monday … Read more

Toronto is getting an outdoor pumpkin patch with hay bales and wood-fired food

Toronto is getting an outdoor pumpkin patch with hay bales and wood-fired food

Fall is just around the corner and that means the return of seasonal favourites like pumpkin spice lattes, Halloween and pumpkin patches. If patches outside the city are too far for you to visit, no need to worry — there will be one in Toronto this year. The South West corner of Bathurst and Richmond streets will be transformed … Read more

Wall St staggers to higher close as Fed rate hike looms

Wall St staggers to higher close as Fed rate hike looms

Register now for FREE unlimited access to Reuters.com Register Market sees 22% likelihood of a 100 bps rate hike from Fed -CME Railroad stocks drop amid negotiations to avoid strike Indexes up: Dow 0.10%, S&P 0.34%, Nasdaq 0.74% NEW YORK, Sept 14 (Reuters) – Wall Street ended a directionless session higher on Wednesday as an … Read more

The next financial crisis may already be brewing, but not where many expect

The next financial crisis may already be brewing, but not where many expect

A growing number of traders, academics, and bond-market gurus are worried that the $24 trillion market for U.S. Treasury debt could be headed for a crisis as the Federal Reserve kicks its “quantitative tightening” into high gear this month. With the Fed doubling the pace at which its bond holdings will “roll off” its balance … Read more